Clarity guide number 11 — new Fair Deal
HM Treasury published the long-awaited ‘Fair Deal for staff pensions: staff transfer from central government’ guidance in October 2013 (the ‘new Fair Deal’). The new Fair Deal provides pension protection to staff who transfer from the public to the private sector.
The key change in the new Fair Deal is that employees who compulsorily transfer out of the public sector must be offered continued access to the relevant public service pension scheme (the ‘relevant scheme’) of which they were a member or eligible to join prior to the transfer. This clarity guide explores the key features and requirements included in the new Fair Deal.
‘Staff transfers from central government: a Fair Deal for staff pensions’ was first published in June 1999 and further supplementary guidance was issued in June 2004 (the ‘old Fair Deal’). It was designed to protect the public sector pension benefits of staff who were compulsorily transferred into the private sector as part of an outsourcing arrangement…
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